Warren Buffet Anecdote

Several of the outstanding characteristics of Buffet while reading his biography were the ff:
1. He is obsessed with accumulating money
2. He is a very calculated risk taker and that he managed risk by way of reading financial statements, Moody's Manuals almost, if not everyday. He doesn't like to lose money especially his client's.
3. He leveraged his talent by borrowing other people's money as shown below

At the time, Warren Buffet probably understood the potential of money management to beget more money better than anyone on Wall Street. Every dollar added to a partnership would net him a share of what he earned for his partners. Each of those dollars, reinvested, would generate earnings of its own. Thos earnings, reinvested, would beget still more earnings. The better his performance, the more he would earn, and the larger his share of the partnerhsips would grow, enabling him to earn even more. His talent for investing could exploit that potential of managing money to the hilt.. Even though he was nearly invsible in the ivesting world, the snowball was starting to roll..

From the Chapter Hidden Splendor of The Snowball, Warren Buffet and the Business of Life
by Alice Schroeder